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 Posted: Mon Apr 19, 2010 7:07 pm Post subject: If I was to have a choice in Texas of an HOA or HOB policy.. |
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| An HOA vs and HOB in Texas - which would be better and why? |
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mickib
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Joined: 19 Apr 2010
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| Posted: Tue Apr 20, 2010 1:53 am Post subject: |
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I am not aware of any homeowners policies with those names; HOA or HOB. To me, it sounds like different varieties of the same contract. Now, freely admitting that I'm not from Texas and that Texas at times can be a different country in terms of insurance- they could easily exist. Let's see what Google says:
Well...what do ya know! Were you aware that you can enter something, well, like "hoa hob insurance" into the Google search engine and IT ACTUALLY GIVES YOU PLACES TO LOOK TO FIND STUFF!! WOW! That's amazing, this internet stuff. lol
Seriously, I found a great link that will tell you everything about the differences in these contracts, and to add to the confusion, there are also HOA+ and HOC policies. Yup...different country. Here's the link:
http://www.articleonlinedirectory.com/Art/208868/28/the-difference-bet ween-texas-home-insurance-policies.html
Well, ya learn something everyday. Funny, the article even recognizes that Texas does things a bit differently. 
InsTeacher  |
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InsTeacher
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| Posted: Wed Apr 21, 2010 4:04 pm Post subject: |
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Texas is different than most other states. In most other states you will find the terms HO1, HO2, and HO3. In Texas, you will find HOA, HOB, and HOC.
HOA is the lowest coverage available, HOC is the highest. Very rare to find a company that will offer an HOC. However, because of a lawsuit regarding mold coverage years back, most insurance companies in Texas will only write a HOA or equivalent thereof. An HOB policy is absolutely a better policy, however, do note that insurance companies can customize their policy language. So company A’s HOB policy might not have the same coverage as company B’s HOB policy.
Check out the Office of Public Insurance Counsel’s website at http://opic.state.tx.us. They offer a great service, free, where you have the ability to go in and get a line by line comparison of policies offered by different insurance companies in the state. It’s a very user-friendly site and a great reference tool. |
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Ryan_Nickels
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Joined: 20 Apr 2010
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Location: Katy, TX
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